When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

Why add an ADU if it can be purchased cheaper?

Evicting them, even after purchase, could be a lengthy and costly legal process.

I have a question about purchasing a duplex and renting it out.

Purchase price: $145,000 Cash invested: $60,000 Finding a move-in-ready home that offers modern upgrades and country charm can be challenging—but this fully renovated 4-5 bedroom, 2-bathroom ranch is the perfect solution.

Compared to other services that might offer lower-quality leads or require higher upfront costs/paywalls, Prime Tracers also give you free lead credits on sign up so you can actually see the results before you commit to a purchase.

You can purchase this with a low-money-down FHA loan. 

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.

My husband and I are approximately 6-12 months out from executing on our first real estate purchase.

I understand where you are coming from as we always did our taxes on turbo tax as well until we purchased rental properties.